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SDRS pension plan earnings were up through May

PIERRE, S.D. (KELO) — After finishing in the red last year, the public pension system for public employees of state and local governments, public schools and other government units in South Dakota is doing somewhat better in 2023. South Dakota Retirement System earnings were up 3.67% through May, according to the state Investment Office. The […] ....

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Initial sales tax figures show online shopping a major force in South Dakota


After years of estimates, the last four months have provided additional insight on just how much sales tax revenue South Dakota cities gain from online purchases.
Sales tax for those transactions hasn t always been collected, but that changed in mid-2018 when the U.S. Supreme Court decided businesses that didn t have a physical location in a state could still be required to pay sales tax. That paved the way for South Dakota to enforce a related law passed in 2017.
With it, the state can require companies to pay sales tax if they had at least 200 business transactions a year from South Dakota or sales of at least $100,000 from South Dakotans. That started in November 2018. ....

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Year-end supplements include $6.4M in COVID-19 relief


The year-end budget supplements for Aberdeen look a little different in 2020.
The first reading of an ordinance outlining those supplements was approved by the Aberdeen City Council on Monday. In a report to the council, Finance Officer Karl Alberts said that like most years, many of the supplements are for unanticipated expenses. But this year there’s also a revenue supplement to account for the $6.4 million in federal COVID-19 relief funds the city received.
Alberts said it was done because it was an unusual influx of funds.
Overall, Alberts said, the supplements listed were in line with previous years.
He said the city plans to close out its streetscape fund. This has been kept by the city since the downtown Tax Increment Financing District was approved. Since, extra funds not spent through the initial improvements were set aside in a streetscape fund. These funds have been used by the Aberdeen Downtown Association for improvements. Alberts said the fund, w ....

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